Yes. There are reasons for using different powders. They all have different stats (advantages and disadvantages) and costs. You can see each powder's stats by hovering your mouse over it during selection. Pick whichever suits you best.
For example, TNT/High TNT is good if you like to spam HE shells. And if you know you're going to rely on AP shells, then consider tube powder. Perhaps you'd like to take a more flexible approach, by selecting something more universal - with weaker bonuses, but improving both HEs and APs. Also, while some powders only have advantages, other may have disadvantages - you should always consider that, too.